Here are seven top psychedelic drug stocks that investors should watch.
In November 2020, Oregon made history by becoming the first U.S. state to legalize psilocybin, the active ingredient in so-called magic mushrooms. Much like cannabis, psychedelics are becoming more mainstream, and investors are sizing up what could be a major long-term growth opportunity, especially as companies develop therapeutic uses for the compounds.
Market research firm Research and Markets estimates that the worldwide legal psychedelic drugs market will grow to $10.75 billion by 2027, up from from $4.75 billion in 2020. Unfortunately, cannabis stock investors know the nascent business has faced many regulatory hurdles and experienced multiple boom-and-bust cycles, so psychedelics investors must have a high risk tolerance.
Here are seven top psychedelics stocks to watch.
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